Guideline Value for Sri Kamatchi Nagar

Sri Kamatchi Nagar guideline value

The current guideline value of Sri Kamatchi Nagar is Rs 1,750 per sq.ft, effective from 1 July 2024. This area is located in Mangadu-B village under the Kunrathur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Sri Kamatchi Nagar has changed

The guideline value for Sri Kamatchi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in the 2023 revision. The latest revision in 2024 raised the value to Rs 1,750 per sq.ft, marking a significant increase of 25% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 87%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of figures indicates that there were no revisions recorded for those years.

Guideline values in Mangadu-B

In Mangadu-B, there are 70 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 4,300 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, placing Sri Kamatchi Nagar's 2024 figure below that median.

• Sri Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Vlc Karikala Cholan Nagar: Rs 3,000 per sq.ft (2024)
• Vlc Karikala Cholan Nagar Phase - I: Rs 3,000 per sq.ft (2024)
• O.A.Royal Nagar: Rs 3,960 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,000 per sq.ft (2024)
• Jeeva Nagar: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,750 per sq.ft, the total guideline value would be Rs 17,50,000. The stamp duty at 7% would amount to Rs 1,22,500, and the registration fee at 2% would be Rs 35,000, bringing the total to Rs 1,57,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Kamatchi Nagar?

The Sub Registrar Office that covers Sri Kamatchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu-B

The guideline value plays a crucial role during property registration in Mangadu-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official documents.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Kamatchi Nagar?

The current guideline value of Sri Kamatchi Nagar is Rs 1,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and then to Rs 1,750 per sq.ft in 2024. This represents an overall increase of 87% from 2017 to 2024.

What are the stamp duty and registration fees for property in Sri Kamatchi Nagar?

For a property valued at Rs 17,50,000, the stamp duty would be Rs 1,22,500 and the registration fee would be Rs 35,000, totaling Rs 1,57,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sri Kamatchi Nagar?

The Kunrathur Sub Registrar Office covers Sri Kamatchi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Kamatchi Nagar?

Sri Kamatchi Nagar falls under the Residential Class I Type - III land classification, which is significant for property registration and valuation.